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SEC Chief Accountant Retreats From IFRS Filing Idea

The chief accountant at the Securities and Exchange Commission is distancing himself from the idea he floated late last year that perhaps the SEC should allow U.S. public companies an option to report under International Financial Reporting Standards.

At a one-day conference in New York, James Schnurr, chief accountant at the SEC, said in prepared remarks that staff outreach in recent months revealed “virtually no support” to have the SEC mandate the use of IFRS for all registrations, and “little support” for...

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